Decentralized AI project Bittensor TAO has experienced a significant 41% increase in the past day, recovering from previous losses when the global crypto market saw over $1 billion in liquidations.

At the time of writing, Bittensor’s price has climbed 49% to $254, marking a 15% gain compared to this time last month, according to CoinGecko data. The crypto asset has a daily trading volume of $203 million, while its market cap stands at $1.8 trillion. This latest achievement makes TAO the best-performing asset in the top 100 on CoinGecko, surpassing Akash Network, which has also surged 41% in the last 24 hours.

The recent surge in TAO follows an announcement from decentralized AI platform Bitmind on August 6 about the launch of the BitMind Subnet, a new component of the Bittensor ecosystem focused on detecting and mitigating deepfakes.

This one is for you #aidevelopers! We just made a comprehensive guide teaching you how to start #mining on the BitMind subnet on RunPod. P.S. You can also earn rewards for creating a #deepfakedetection model on @opentensor. Reach out for more info.

The BitMind Subnet effectively differentiates between authentic and synthetic content, offering transparent, publicly accessible results and utilizing an open-source subnet architecture. The surge in TAO also comes at a time when other AI tokens have seen substantial gains over the past day. Notably, Render (RNDR) and Artificial Superintelligence Alliance token (FET) have jumped 28.8% and 13.6% respectively.

This increase in AI tokens coincides with a 9% rise in the global crypto market, now valued at $1.98 trillion. Bitcoin, the leading cryptocurrency, is also in the green, up 7.6% in the last 24 hours and trading at $55,694. Ethereum, the largest altcoin, is up 10%, trading at $2,506 according to CoinGecko data.

For more updates on the latest trends and insights in the cryptocurrency world, continue to explore Global Crypto News.

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